Income Sources of Retirees in the U.S.
A Congressional Research Service report from 2025 shows that most Americans aged 65 or older rely on multiple income sources during retirement, with Social Security being a significant but not primary source. About 19% depend on it for 90% or more of their income, while the average share is around 30%. Wages contribute 27%, pensions and retirement funds account for 24%, and asset-based income makes up another 12%. The report used tax records matched with survey data to analyze these trends. As people age beyond 80 years old, Social Security's role increases but remains below half of their total income. The analysis highlights that many Americans underestimate the importance of pensions and retirement funds in their financial planning. Despite this, most still expect to rely on Social Security as a key part of their retirement strategy. However, concerns are growing about its long-term sustainability; the OASI trust fund is projected to be depleted by 2032 under current trends.
Topics: income distribution retirement planning Social Security